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Many Norton customers are very familiar with the latest technology and convenient uses of mobile devices. In fact, many Norton customers found us on the internet and selected their vehicle by using their mobile devices. Another increasingly popular use of a mobile device is making bank deposits. This can enable much quicker availability of your funds and save valuable time otherwise spent waiting in bank lines. Just use your mobile device to snap a picture of the front and back of the check, electronically deposit it into your account and you could have nearly instant access to your money. But…..not all banks offer this service.

Over 75 million people use their mobile devices for banking but only around 38% of them used their mobile devices last year to make deposits. Obviously, your bank must provide such a service and many are now starting to do so. There are some other things you should be careful about:
• Be sure to confirm the availability time or holding period of your bank on such deposits. Even though there are federal regulations that make deposited funds available in one to three days, many banks simply ignore the rules and don’t let you use your deposited funds until the bank decides to let you do so. Check your account agreement and get confirmation from your bank to be sure.
• After making an electronic deposit, hold on to the paper check for a couple of weeks in case problems arise so that you have the “hard copy” to support your deposit. Date your deposit and mark the check for reference then destroy it when the bank has acknowledged your deposit. Destruction of the paper insures that no one else will try to deposit it again.
• Don’t pay deposit fees for this service because electronic deposits cost banks far less than the old way of handling them.

Using the new technology can be helpful and convenient when used safely and efficiently.